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Registration number: 05096285

Limebridge Rural Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Limebridge Rural Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Limebridge Rural Services Limited

Company Information

Directors

JR Stedman

K James

JR Stanley

Registered office

1 Ban Brook Road
Salford Priors
Evesham
Worcestershire
WR11 8XE

Accountants

Clement Rabjohns Limited
Chartered Accountants
111/113 High Street
Evesham
Worcestershire
WR11 4XP

 

Limebridge Rural Services Limited

(Registration number: 05096285)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

229,669

220,224

Current assets

 

Stocks

19,800

6,500

Debtors

6

62,929

41,624

Cash at bank and in hand

 

40,342

20,849

 

123,071

68,973

Creditors: Amounts falling due within one year

7

(115,828)

(98,022)

Net current assets/(liabilities)

 

7,243

(29,049)

Total assets less current liabilities

 

236,912

191,175

Creditors: Amounts falling due after more than one year

7

(57,500)

(62,500)

Provisions for liabilities

(57,417)

(41,842)

Net assets

 

121,995

86,833

Capital and reserves

 

Called up share capital

2,200

2,200

Share premium reserve

60

60

Retained earnings

119,735

84,573

Shareholders' funds

 

121,995

86,833

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 February 2024 and signed on its behalf by:
 

 

Limebridge Rural Services Limited

(Registration number: 05096285)
Balance Sheet as at 30 June 2023

.........................................
JR Stedman
Director

.........................................
K James
Director

 

Limebridge Rural Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Ban Brook Road
Salford Priors
Evesham
Worcestershire
WR11 8XE
United Kingdom

These financial statements were authorised for issue by the Board on 26 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Limebridge Rural Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

15% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

over 10 years

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Limebridge Rural Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2022 - 6).

 

Limebridge Rural Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2022

80,000

80,000

At 30 June 2023

80,000

80,000

Amortisation

At 1 July 2022

80,000

80,000

At 30 June 2023

80,000

80,000

Carrying amount

At 30 June 2023

-

-

At 30 June 2022

-

-

5

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

456,377

8,332

70,651

535,360

Additions

52,610

1,248

-

53,858

At 30 June 2023

508,987

9,580

70,651

589,218

Depreciation

At 1 July 2022

266,555

7,903

40,678

315,136

Charge for the year

36,364

555

7,494

44,413

At 30 June 2023

302,919

8,458

48,172

359,549

Carrying amount

At 30 June 2023

206,068

1,122

22,479

229,669

At 30 June 2022

189,822

429

29,973

220,224

 

Limebridge Rural Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

62,273

40,677

Prepayments

656

947

 

62,929

41,624

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

5,000

12,803

Trade creditors

 

16,029

8,524

Taxation and social security

 

29,859

16,352

Accruals and deferred income

 

6,095

4,429

Other creditors

 

58,845

55,914

 

115,828

98,022

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £5,000 (2022 - £12,803).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

57,500

62,500

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £2,500 (2022 - £7,500).

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

2,500

7,500

Other borrowings

55,000

55,000

57,500

62,500

 

Limebridge Rural Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

5,000

12,803